While rivals cut costs, Converge hikes capex

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March 10, 2026 | 12:00am

MANILA, Philippines — Broadband provider Converge ICT Solutions Inc. is swimming against the tide this year as it is raising capital expenditures by up to 30 percent, while its competitors are announcing spending cuts.

Converge is taking the path less traveled in 2026, which is spending more on network expansion, as it gambles on a new project that would increase its fiber ports to around 10 million.

The internet service provider owned by tech tycoon Dennis Uy is allocating up to P23 billion for capex this year, after coughing up P17.7 billion in 2025.

For 2026, Converge is spending the budget largely on fiber buildup involving 900,000 ports. It is building new lines in Visayas and Mindanao and is pairing this with infrastructure repairs to improve service resilience.

Converge is capable of financing a higher capex this year following a 10-percent growth in profit to P11.86 billion in 2025. The company booked a 10-percent surge in revenue to P44.77 billion, while expenses picked up by nine percent to P15.74 billion.

The company said residential revenues rose by eight percent to P37.33 billion, driven by its record of providing the country’s fastest broadband speed.

Converge’s enterprise revenues jumped by 20 percent to P7.45 billion, as the company came up with fresh solutions intended for small and medium businesses.

Converge expects revenues to go up by eight to 10 percent this year, eyeing to penetrate markets where competitors are struggling.

Still, Converge is far from maximizing the potential of its infrastructure network. As of 2025, the provider has laid out 9.21 million ports, with utilization rate reaching 37.4 percent.

Converge widened its customer base by 16 percent to 2.98 million last year, from 2.56 million in 2024. It is roughly one million shy of its 2027 target of four million subscribers.

It is the lone connectivity player that posted a profit growth in 2025, as both PLDT Inc. and Globe Telecom Inc. suffered single-digit declines, leading to capex cuts this year.

Converge hopes to sustain its growth momentum by turning to new businesses, such as artificial intelligence and cloud computing, to become a larger player in the technology market.